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Post by blueneck on Oct 17, 2007 4:37:15 GMT -6
Good article from MSNBC on the middle class squeeze. Fairly long so I will only post link. The summary: Some things like clothes, electronics appliances cost less than 30 years ago (because they are imported and generally poorer quality) Some things cost more - food, fuel, utilities, local taxes, housing On balance to maintain the same middle class std of living of the early 1970s two incomes are required today to do the same as one then www.msnbc.msn.com/id/21309318
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Post by jeffolie on Oct 17, 2007 12:08:02 GMT -6
When women went to work in the 70's, house prices climbed essentially voiding the family income gain from the second paycheck. The quality of family life deteriorated and divorce skyrocketed. Bidding up house prices combined with the inflation from not raising taxes to pay for the Vietnam war squeezed the American lifestyle beyond repair.
Before the 70's family lifestyle disruption, the wife made clothes for the kids and cooked meals. Now women do not sew and the family eats diner out 3-4 times per week. Credit cards back then were rare and the savings rate was about 10%.
Yes, times have changed and there is no going back to the old days and ways.
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Post by redwolf on Oct 21, 2007 13:01:08 GMT -6
You don't have to be an economist to realize that the American standard of living is declining. Living Paycheck to Paycheck Gets HarderAP NEW YORK (Oct. 19) - The calculus of living paycheck to paycheck in America is getting harder. What used to last four days might last half that long now. Pay the gas bill, but skip breakfast. Eat less for lunch so the kids can have a healthy dinner. Across the nation, Americans are increasingly unable to stretch their dollars to the next payday as they juggle higher rent, food and energy bills. It's starting to affect middle-income working families as well as the poor, and has reached the point of affecting day-to-day calculations of merchants like Wal-Mart Stores Inc., 7-Eleven Inc. and Family Dollar Stores Inc. money.aol.com/news/articles/_a/living-paycheck-to-paycheck-gets-harder/20071019152009990001
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Post by beachbumbob on Oct 22, 2007 4:50:34 GMT -6
When women went to work in the 70's, house prices climbed essentially voiding the family income gain from the second paycheck. The quality of family life deteriorated and divorce skyrocketed. Bidding up house prices combined with the inflation from not raising taxes to pay for the Vietnam war squeezed the American lifestyle beyond repair. Before the 70's family lifestyle disruption, the wife made clothes for the kids and cooked meals. Now women do not sew and the family eats diner out 3-4 times per week. Credit cards back then were rare and the savings rate was about 10%. Yes, times have changed and there is no going back to the old days and ways. we will see the"good old days" and not because they were "good". Food banks short of food, soup lines growing. Mom will have to learn to sew and cook agin. because there will be little money
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